Those with money to invest have for many years relied on investment experts and financial advisors to help them invest their money wisely. Today, we can fill out a questionnaire online and have the computer do the preliminary work of choosing our investments. The final decision is in most cases made by a person, but in many cases the computer’s decision is allowed to stand. This is the face of investing today.
Traditional brick-and-mortar banks are increasing their online options all the time, and many of them – if not most – are now offering customers the option of managing an investment portfolio online, and online banks have made the process easier than you would think possible. It is simple and straightforward to buy and sell stocks online, check investment balances, increase or decrease monthly contributions to your portfolio, and check to see how your stocks are doing.
Some people are comfortable having control over their own investments, managing their own portfolio, and making their own financial decisions, but others don’t feel as comfortable managing their investments on their own. Most of us have little or no training in money management, and investments are often the financial area we know the least about, so a lot of people like to have some sort of help or guidance when it comes to investing their money. Traditional banks offer one-on-one investment counseling, which may or may not be the best advice you could possibly get. Online banks offer some interesting ways to get started with online investing. You will fill out questionnaires to find out what kind of risk you are comfortable with, you can even use a practice account to try out online investing without actually risking any money, and you can take advantage of online education seminars offered by your online bank to help you learn about money management. There are online communities you can join to interact with other investors just like you, and you can even arrange for phone counseling from an investment expert through most online banks. Investing is always a bit risky, but you can minimize the risk by educating yourself and taking advantage of all the help that is offered by your bank.